Indian Startup Table Space targets $2.5billion valuation in IPO

Team S · 2024-10-16T10:20:31.000Z

Table Space, an Indian managed workspace provider, is gearing up for a significant initial public offering (IPO) planned for next year, aiming for a valuation of $2.5 billion or more. Founded in 2017, the Bengaluru-based startup has experienced rapid growth and expansion in the flexible workspace sector. • Table Space has hired Axis Securities as a bookrunner for the IPO. • The company currently operates over 60 centers across six urban Indian cities, serving Fortune 500 clients such as Apple, Google, and Mastercard. • With a real estate portfolio exceeding 9.5 million square feet, Table Space plans to nearly double its footprint within three years, investing about $535 million. • The company's co-founder and president, Kunal Mehra, projects annual revenue to reach nearly $600 million by March 2027. Despite global uncertainties in the flexible workspace sector, exemplified by WeWork's struggles, demand for such spaces remains strong in major Indian cities. This demand is driven by a growing technology sector and multinational corporations seeking to reduce long-term lease commitments. Table Space's IPO plans follow the successful public debut of Awfis, another co-working space provider, whose stock has surged nearly 70% since its IPO. The Indian market has been particularly active in tech IPOs, outpacing the U.S. in this regard, with Indian firms raising over $9 billion via IPOs and FPOs this year.

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Indian Startup Table Space targets $2.5billion valuation in IPO | Newnex